Connect with us

Industry News

Exmo Exchange | Exmo Review | Exmo Future plans

With the rise in the cryptocurrency markets, multiple exchange platforms have entered the market. Each of them offers a distinct combination of fees, trading, geographical characteristics, and user interfaces.

Overview

Legal Name Exmo Exchange
Headquarters London, UK
CEO Sergey Zhdanov
Year Founded 2013
Exchange Type Centralized
Trading Fees Maker: 0.40%/ Taker: 0.40%
Deposit Methods Wire Transfer, Credit Card and Cryptocurrency
Supported Cryptos 50+ supported cryptocurrencies including Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and more
Fiat US Dollar (USD), Euro (EUR), Polish Zloty (PLN) and more
Customer Service Email
Trading Options Spot Trading

With the rise in the cryptocurrency markets, multiple exchange platforms have entered the market. Each of them offers a distinct combination of fees, trading, geographical characteristics, and user interfaces.

– Advertisement –

Exmo is a cryptocurrency exchange that enables users to transfer several cryptocurrencies. You can deposit funds into your account using a variety of payment mechanisms, and the platform includes support for five fiat currencies

Trade 180+ trading pairs, and 7 fiat currencies on one of the leading exchanges in the Commonwealth of Independent States (CIS) – EXMO.

In this article, we will provide you with the complete guide on the Exmo exchange and look into its aspects such as its features, fees, pros and cons and much more. Let us look into detail in this Exmo exchange review now,

What is Exmo?

– Advertisement –

Exmo is a UK-based cryptocurrency exchange that was established in the year 2013. It has its team members and customers around the world. The Exmo Trading Platform can be used by people in more than 200 countries around the world.

It is a popular trading destination for the purchase and selling of cryptocurrencies. Exmo receives money and coins from customers, after which they are able to exchange with each other using the money they have accumulated in their wallets.

Exmo Features

  1. Exmo Interface: Exmo has a very basic but powerful interface, making it very open to first-time users. It is divided into four major groups, namely: Trade, Trade New, Exchange and News.
  2. Exmo OTC Services: The platform offers an Over The Counter (OTC) trading service where transactions are made by a competent broker. In order to apply for this service, sales must be greater than $100k, making it an especially exclusive service.
  3.  Exmo Wallet: As an Exmo customer, you will have access to a web-based wallet where you can store your coins easily.
  4.  Security: Exmo is supported by SSL and presents its users with the excellent methods of securing their cryptocurrency holdings:
  5. Customer Support: There is an online chat facility. Also there is a customer support email address which can be reached at [email protected]

Exmo Fees and Limits

Exmo Exchange does not charge separate rates for takers and makers. They have got a flat rate model of 0.40 %. Exmo charges a withdrawal fee of 0.0004 BTC as you withdraw BTC. This is below the average for the global sector.

Exmo Supported Currencies

Exmo supports multiple cryptocurrencies. Some of the major ones include:

  • Bitcoin (BTC)
  • Litecoin (LTC)
  • Dogecoin (DOGE)
  • Dash (DASH)
  • Ethereum (ETH)
  • Waves (WAVES)
  • Zcash (ZEC)
  • Tether (USDT)
  • Monero (XMR)
  • Ripple (XRP)
  • KickCoin (KICK)
  • Ethereum Classic (ETC)
  • Bitcoin Cash (BCH) 

Exmo exchange supports the following fiat currencies:

  • US dollars (USD)
  • Euros (EUR)
  • Ukrainian hryvnias (UAH)
  • Russian rubles (RUB)
  • Polish Zloty (PLN)

Exmo Payment Methods

Exmo supports multiple payment methods for its members which can be listed as below:

  • Cryptocurrency
  • VISA/MasterCard
  • Wire Transfer
  • Enfins
  • Perfect Money
  • Payeer
  • Rapid Transfer
  • SEPA
  • AdvCash
  • WebMoney
  • Qiwi

Exmo Mobile App

After a period of beta tests, the Exmo mobile application is available for download on Android devices. You can use a range of features with the app on the go.

How to register on Exmo?

  1. Step 1:

    Navigate to the Official Website and select the ‘Sign up’ button at the top right of the screen.

  2. Step 2:

    Enter your username, email address, and select a secure password.

  3. Step 3:

    Then complete the captcha and agree to the terms. Then select the “Register” button

  4. Step 4:

    Now, you will get a confirmation email from the EXMO team.

  5. Step 5:

    To activate your account, click the link on that email.

    register-on-Exmoregister-on-Exmo

How to recover the Exmo password?

Click the “Forgot password?” Option on the login page. Then input your Email address or phone number. Please check in your mailbox/phone for the email verification code. Click “Submit” after filling in the verification code you received. Now you can set a new login password.

How to deposit on Exmo?

How to withdraw on Exmo?

  1. Step 1:

    Log in to your EXMO account.

  2. Step 2:

    Click the ‘Finance’ icon located on the top of the page.

  3. Step 3:

    Select the cryptocurrency you wish to withdraw and click the corresponding ‘Withdraw’ button.

  4. Step 4:

    Enter the withdrawal amount, the correct wallet address and click the ‘Withdraw’ button.

  5. Step 5:

    You should receive the coins in your wallet instantly. However it can take up to an hour depending on the amount of the transaction.
    withdraw-on-Exmo

    withdraw-on-Exmo
    withdraw-on-Exmowithdraw-on-Exmo

How to buy cryptocurrencies on Exmo?

  1. Step 1:

    Log in to your EXMO account and click ‘Buy’ option located at the top left of the page.

  2. Step 2:

    We will consider the example of Ethereum and the fiat currency is Euro.

  3. Step 3:

    Click the ‘EUR’ on the top right of the page. Then, click the trading pair ETH/EUR.

  4. Step 4:

    Below the trading graph, you will find two types of order: Limit order and Instant order. In this example, the Instant order is selected.

  5. Step 5:

    Enter either the amount of EUR you would like to spend or simply enter the number of ETH you would like to buy and click the ‘Buy ETH’ button.

How to sell cryptocurrencies on Exmo?

  1. Step 1:

    Log in to your EXMO account and click ‘Sell’ option located at the top left of the page.

  2. Step 2:

    We will consider the example of Ethereum and the fiat currency is Euro.

  3. Step 3:

    Click the ‘EUR’ on the top right of the page. Then, click the trading pair ETH/EUR.

  4. Step 4:

    Below the trading graph, you will find two types of order: Limit order and Instant order. In this example, the Instant order is selected.

  5. Step 5:

    Enter the number of ETH you would like to sell and click the “Sell ETH’ button.

Exmo Pros and Cons

Pros

  • 24/7 Customer service
  • Variety of payment options available
  • Access to a number of major cryptos
  • Multi Language Support
  • Flat and low 0.2% trading fees

Cons

  • Does not support Margin trading
  • US Clients are not approved.
  • Supports a limited number of cryptos.
  • Transfer limits on the platform

Conclusion

Exmo offers a convenient and easy way to swap cryptocurrencies with each other. Supporting about 200,000 customers a day, Exmo is ranked in the top 10 currency exchanges in the world.

Thus Exmo is an excellent cryptocurrency exchange for beginners who enjoy the elegant nature of the interface. It is also good to have so many payment choices that encourage more users from more places to be able to access it.

Exmo FAQs

  1. How does Exmo work?

    Exmo receives funds and tokens from customers, after which they are able to carry out trading activities using the funds they have deposited in their wallets.

  2. Does Exmo have a demo mode?

    Exmo does not currently have a demo mode. It is recommended to begin by trading in small amounts to minimize potential losses.

  3. What is the processing time for withdrawals at Exmo?

    Withdrawals depend on the payment method used. Some methods take days to complete, while there are some which take hours.

  4. Is Exmo a regulated exchange?

    No, Exmo is not a regulated cryptocurrency exchange.

  5. Is it safe to use Exmo?

    Exmo is generally safe to use as it focuses strictly on the reliability and security of its users’ funds and personal data.

Exmo Ratings  

Reviewed By Qadir Ak

Summary

Exmo is a UK-based cryptocurrency exchange that was established in the year 2013. It has its team members and customers around the world.

Summary

Reviewer

Qadir AK

Review Date

2020-10-07

Reviewed Item

Exmo Exchange

Author Rating

Continue Reading
Advertisement

Daily Financial News

Don’t Count On JPY Correction; Staying Long GBP/JPY

The path of the potential pace of the JPY decline may still be underestimated by markets, which continue trading the JPY long.

While the 10% USDJPY advance from September lows looks impressive from a momentum point of view, it may no thave been driven by Japan’s institutional investors reducing their hedging ratios or Japan’s household sector reestablishing carry trades.

Instead, investors seemed to have been caught on the wrong foot, concerned about a sudden decline of risk appetite or the incoming US administration being focused on trade issues and not on spending. Spending requires funding and indeed the President-elect Trump’s team appears to be focused on funding. Here are a few examples: Reducing corporate taxation may pave the way for US corporates repatriating some of their USD2.6trn accumulated foreign profits. Cutting bank regulation could increase the risk-absorbing capacity within bank balance sheets. Hence, funding conditions – including for the sovereign – might generally ease. De-regulating the oil sector would help the trade balance, slowing the anticipated increase in the US current account deficit. The US current account deficit presently runs at 2.6% of GDP, which is below worrisome levels. Should the incoming government push for early trade restrictions, reaction (including Asian sovereigns reducing their holdings) could increase US funding costs, which runs against the interest of the Trump team.

Instead of counting on risk aversion to stop the JPY depreciation, we expect nominal yield differentials and the Fed moderately hiking rates to unleash capital outflows from Japan.The yield differential argumenthas become more compelling with the BoJ turning into yield curve managers. Via this policy move, rising inflation rates push JPY real rates and yields lower, which will weaken the JPY. Exhibit 12 shows how much Japan’s labor market conditions have tightened. A minor surge in corporate profitability may now be sufficient, pushing Japan wages up and implicity real yields lower.

JPY dynamics are diametrical to last year . Last year, the JGB’s “exhausted”yield curve left the BoJ without a tool to push real yields low enough to adequately address the weakened nominal GDP outlook. JPY remained artificially high at a time when the US opted for sharply lower real yields. USDJPY had to decline, triggering JPY bullish secondround effects via JPY-based financial institutions increasing their FX hedge ratios and Japan’s retail sector cutting its carry trade exposures. Now the opposite seems to be happening. The managed JGB curve suggests rising inflation expectations are driving Japan’s real yield lower. The Fed reluctantly hiking rates may keep risk appetite supported but increase USD hedging costs.Financial institutions reducinghedge ratios and Japan’s household sector piling back into the carry trade could provide secondround JPY weakening effects

Continue Reading

Daily Financial News

Mexico raises interest rates, cites Trump as risk

The head of Mexico’s central bank says U.S. Republican candidate Donald Trump represents a “hurricane” sized threat to Mexico.

Banco de Mexico Gov. Agustin Carstens told the Radio Formula network Friday that a Trump presidency “would be a hurricane and a particularly intense one if he fulfills what he has been saying in his campaign.”

Trump has proposed building a wall along the border and re-negotiating the North American Free Trade Agreement.

Mexico’s central bank raised its prime lending rate by half a percent to 4.75 percent Thursday, citing “nervousness surrounding the possible consequences of the U.S. elections, whose implications for Mexico could be particularly significant.”

Mexico’s peso had lost about 6 percent in value against the dollar since mid-August. It recovered slightly after the rate hike

Continue Reading

Financial News

Africa’s first Fairtrade certified gold co-operative offers hope to gold miners living in poverty

Syanyonja Artisan Miners’ Alliance (SAMA) has become the first artisanal small scale mining co-operative in Africa to become Fairtrade certified, bringing much needed hope to impoverished communities who risk their lives to mine the rich gold seam that runs around Lake Victoria.

SAMA is one of nine previously informal groups from Uganda, Kenya and Tanzania which has benefitted from a pilot project launched by Fairtrade in 2013. This innovative program aims to extend the benefits of Fairtrade gold to artisanal miners across East Africa.

In that short time, SAMA has undergone training in business and entrepreneurship, as well as safe use of mercury, internal control systems, labour rights and better working conditions, health and safety and more. Previously, daily contact with toxic chemicals used to process gold meant members risked disease, premature births and even death.  Fairtrade gold was first launched in 2011, and SAMA now joins Fairtrade certified gold mines MACDESA, AURELSA and SOTRAMI in Peru.

The co-operative produces just 5 kg gold per year, but nevertheless has the potential to significantly benefit many people in the local community through better conditions through certification. It is expected that Fairtrade and organizations like Cred Jewellery will support the miners, ensuring their gold can be refined and made available to jewellers in the UK and other markets.

Gonzaga Mungai, Gold Manager at Fairtrade Africa said: “This is a truly momentous and historical achievement and the realisation of a dream that is many years in the making. Gold production is an important source of income for people in rural economies. Congratulations to SAMA, it sets a precedent which shows that if groups like this can achieve certification, then it can work for others right across the African continent.”

The Fairtrade Gold Standard encourages better practice and changes to come in line with international regulation around the production and trade of so-called ‘conflict minerals’. Under the Standard, miners are required to:

  • Uphold a human rights policy preventing war crimes, bribery, money laundering and child labour
  • Clearly represent where the minerals were mined
  • Minimise the risks of conflict minerals through robust risk assessments and collaboration across supply chains
  • Report to buyers and trading partners regarding the risks of conflict minerals

Now in its second phase, the programme will focus on supporting other mining groups in the region to access affordable loans and explore a phased approach to accessing the Fairtrade market, allowing more mining co-operatives across Africa to participate in the programme.

Gonzaga added: “Sourcing African metals from smallscale miners in the Great Lakes Region is the responsible thing to do. For a long time companies have avoided buying gold from this region, with devastating consequences for impoverished communities who were already struggling. It has driven trade deeper underground, as unscrupulous buyers pay lower prices and launder illegal gold into legitimate supply chains. That’s why we have chosen to work with these groups to help them earn more from their gold within a robust compliance system that offers social, environmental, and economic protections.”

The Fairtrade gold programme offers a small but scalable solution to sustainable sourcing of gold from the region in line with Section 1502 of the Dodd-Frank Act in the US, OECD Due Diligence Guidance and recent EU Supply-Chain Due Diligence proposals which could come into effect in 2016. This means that up to 880,000 EU firms that use tin, tungsten, tantalum and gold in manufacturing consumer products could be obliged to provide information on steps they have taken to identify and address risks in their supply chains for so-called ‘conflict minerals’.

Continue Reading

Trending